petual buyer at a fixed price always at hand. For a kilogramme of Silver 900 fine one could always be sure of 200 francs (less mintage) payable on the nail in bons de monnaie (Mint certificates) due in cash ten days after date of import, discountable at a banker's, and convertible into English sterling by a draft on Paris. Now, a kilogramme of 900 fine is equal to 31·28179 standard ounces (2/2 2/4 2/0 fine)—(a kilogramme=32·150727 oz.).
| One ounce standard, therefore, was coined into | frs. 6·39349 |
| less Mint charges ·75 per cent | ·04795 |
| frs 6·34554 | |
| from this must be deducted ten days' discount on the bon de monnaie (besides a further reduction for agency in Paris) | ·00521[1] |
| frs. 6·34033 |
which sum is the most that the remitter of an ounce of silver to Paris would have there in cash at his disposal; and this, at the exchange of 25·2215 (par), would produce in London 60·332d.,[2] less transport and insurance charges, say 1/6 per cent. on the declared value = about ·100, leaving 60·232d. net. Thus an ounce so coined
| When Exchange is at |
Will produce in London. d. |
Deduct for Transport, &c. |
d. | Net Proceeds. | |
| 25·2215 (par) | 60·332 | ·100 | 60·232 | or say | 5/0¼ |
| 25·35 (gold point) | 60·026 | ·100 | 59·926 | 5/- | |
| 25·40 | 59·908 | ·100 | 59·808 | 4/11¾ | |
| 25·45 | 59·790 | ·100 | 59·690 | ||
| 25·50 | 59·673 | ·100 | 59·573 | 4/11½ | |
| 25·55 | 59·556 | ·100 | 59·456 | ||
| 25·60 | 59·440 | ·100 | 59·340 | 4/11¼ | |
| 25·65 | 59·324 | ·100 | 59·224 | ||
| 25·70 | 59·209 | ·100 | 59·109 | 4/11 | |
| 25·75 | 59·094 | ·100 | 58·994 | ||
| 25·80 | 58·980 | ·100 | 58·880 | 4/10¾ | |
| 25·85 | 58·866 | ·100 | 58·766 | ||
| 25·90 | 58·752 | ·100 | 58·652 | 4/10½ | |
| 25·95 | 58·639 | ·100 | 58·539 | ||
| 26·— | 58·526 | ·100 | 58·426 | ||
The precise amount of English sterling will of course depend
- ↑ In England there are no Mint charges on gold, but the discount for payment on the nail, and the agency charge are provided for by the fixed allowance of 1½d. per ounce, the difference between the Mint price and the 77s. 9d. payable by the Bank.
- ↑ Excluding mintage, discount and transport, the ounce standard coined at the Paris Mint would produce in London, exchange being at part, 60·838d., or, so 60⅞d.
